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Risks to the revenue and collection cycle

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Explain some risks to the revenue and collection cycle that are the result of improper revenue collection.

© BrainMass Inc. brainmass.com September 24, 2018, 5:36 pm ad1c9bdddf - https://brainmass.com/business/accounting/risks-to-the-revenue-and-collection-cycle-565209

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When improper revenue amounts are reported as income, the risks are that

1. Revenue is overstated (or even understated) and usually the result of a timing issue or cut-off problem.
2. Revenue ...

Solution Summary

The solution provides a listing of seven types of problems or risks when revenue is improperly reported.

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